HLP to Offer Automated Asset Verification through Partnership with AccountChek by FormFree

Tool Will Help Consumers Speed Application Process to Avoid Foreclosure

Source: FormFree | Thu, 06 Apr 2017, 12:41:21 EDT

BALTIMORE, Md., April 6, 2017 (SEND2PRESS NEWSWIRE) — HLP (https://www.hlp.org/) today announced it will integrate FormFree’s AccountChek™ automated asset verification service into its communication platform, making it easier for consumers and HUD-certified, nonprofit housing counselors to apply for loan modifications and other options to avoid foreclosure. The partnership will enable consumers and their advocates to verify assets and deposits faster and more accurately using AccountChek’s ultra-secure, fully digital process.

HLP, the only nonprofit technology provider in residential mortgage finance, has helped more than 500,000 homeowners seeking to avoid foreclosure since its founding in 2009. HLP connects consumers, HUD-certified housing counselors, mortgage lenders, servicers, investors, attorneys and government agencies on a single platform to build solutions that help individuals and families achieve and sustain homeownership.

“This partnership will benefit homeowners in financial distress by streamlining loss mitigation processing and taking it to a new level of efficiency, reliability and security,” said Cam Melchiorre, president and CEO of HLP. “AccountChek provides all the documentation servicers need to determine a consumer’s ability to pay under a home retention workout — without the frustration of gathering statements or dealing with lost or incomplete paperwork.”

AccountChek by FormFree is a cloud-based service that securely connects with virtually any financial institution to analyze consumer assets and deposits, delivering a safe and hassle-free verification experience for borrowers and greater purchase certainty for lenders and investors. FormFree is Fannie Mae’s first designated vendor for asset verification through Desktop Underwriter® (DU®) as part of its Day 1 Certainty™ program, which offers enforcement relief from certain reps and warranties for validated loan components.

“We are proud to help consumers avoid the burden of foreclosure by making asset verification a more painless part of the loss mitigation process,” said Brent Chandler, founder and CEO of FormFree. “Through this integration with HLP, consumers and their advocates can now enjoy the same benefits AccountChek already delivers to borrowers applying for a new mortgage.”

About Hope LoanPort (HLP):
Created in 2009, HLP powered by RX Office is a nonprofit collaborative that connects counselors, advocates, mortgage lenders, servicers, investors, attorneys and government agencies to build solutions that help individuals and families achieve and sustain homeownership. HLP unifies the housing industry by encouraging stakeholders to share information with each other via its technology platform and collaborate to find solutions to help homeowners. To date, HLP has helped more than 500,000 homeowners during their time of need. For more information, visit https://www.hlp.org/.

About FormFree:
Leading lenders trust FormFree’s automated verification solutions that streamline the loan origination process and provide better intelligence on borrowers’ ability to repay. FormFree’s flagship app, AccountChek™, eliminates the hassle of collecting paper statements from borrowers by using direct-access data untouched by human hands to consolidate, analyze and verify assets. AccountChek securely delivers automated asset verification data and on-demand reports to more than 350 leading U.S. lenders. A HousingWire TECH100™ company for four consecutive years, FormFree is based in Atlanta, Georgia. For more information, visit http://www.formfree.com/.

“This partnership will benefit homeowners in financial distress by streamlining loss mitigation processing and taking it to a new level of efficiency, reliability and security,” said Cam Melchiorre, president and CEO of HLP.

FormFree is the leading provider of automated verification services for the lending industry. Its flagship product, AccountChek™ is the only patented third-party asset verification acceptable to GSEs and leading investors. More than 200 leading lenders offer AccountChek to their millions of customers in the United States. FormFree is headquartered in Atlanta, Georgia.

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